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Investing.com -- AstraZeneca Plc is expected to announce an agreement with President Donald Trump to reduce drug prices, according to Bloomberg, citing people familiar with the plans. The announcement is set to take place at the White House on Friday.
This would make AstraZeneca the second pharmaceutical company to reach such an agreement with the Trump administration, following Pfizer in advancing one of the president’s key health priorities. The specific details of the agreement have not yet been disclosed.
The accord is part of a major initiative to lower drug prices in the United States while ensuring other wealthy nations bear a greater portion of the costs associated with developing new breakthrough medicines.
AstraZeneca’s Chief Executive Officer Pascal Soriot was seen with Centers for Medicare & Medicaid Services Administrator Mehmet Oz on Thursday in Virginia. During this visit, they discussed the company’s expansion of its U.S. manufacturing operations, which is part of AstraZeneca’s $50 billion investment commitment in the United States.
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